The UK’s construction industry has been burdened by increasing pressure in recent years. With challenge after challenge the need for the right risk protection advice has never been greater. As a Chartered Insurance Broker, we pride ourselves on providing specialist construction advice that really makes a difference, now and into the future.
Who we support
Housebuilders and property developers
Demolitions contractors
Principle contractors
Principle designers
Civil engineering firms
Allied trades to the sector
Our clients are telling us
Construction insurance at a glanceConstruction brochure
Avoiding the risk of underinsurance
We're specialists in Construction Insurance
Through our collective experience, we’ve observed many of the best and worst practices in the insurance advisory market. We’re here to challenge the status quo and aim to establish a new level of service. We’re combining the best traditions of technical advice and client centricity, with modern thinking and smart use of systems and technology to enhance the client experience and create a dynamic workplace for our team.
Challenges in your industry
We believe insurance broking has lost its way. All too often, the traditional focus on placement and pricing leaves critical gaps in the fundamental basics of the typical general insurance contracts, and insufficient focus on the wider threats to the 21st century construction business.
How we support
Partners& has been designed from the ground up to be the best advisory business in the UK to confront these issues head-on. We’ve brought together the best risk protection advisers in the insurance industry, and together with an extensive ecosystem of specialist partners, we go further to understand your business, diagnose your risks, and stand shoulder-to-shoulder with you across all areas of threat when it really matters.
Your business performs
We have developed our ability to support our clients across a wide spectrum of challenges and risks to a business’s operation. Whether it be through our own in-house capabilities or via our ecosystem partners, whatever challenge you are facing, you can be sure that we are well placed to support your business, as it progresses towards its objectives.
Why do you need specialist construction insurance?
Construction insurance is a complex area. As insurers reduce their internal cover limits and the market shrinks in its capacity to provide solutions, it is important to partner with an adviser who not only knows the industry and can design a competitive, flexible insurance programme that responds when needed but also has the technical skills and knowledge to support you with issues such as complicated people risk, the ever-evolving legislative landscape, and JCT contracts.
Our approach to business resilience and the risk management tools and techniques we use enable us to help construction businesses mitigate the risks they face today.
Sectors we operate in:
- Housebuilders and property developers
- Demolitions contractors
- Principle contractors
- Principle designers
- Civil engineering firms
- Allied trades to the sector
What our clients are telling us:
Cyber threats
As firms adopt to the new technology available, they need to renew their focus on their IT infrastructure to future proof and mitigate the risks from the increasing level of sophisticated malware and phishing attacks made by cyber criminals.
Rising insurance costs
With the turbulence of recent years and an already hardening insurance market, many construction insurers have reduced their offering for certain classes of insurance, such as professional indemnity, resulting in conflicts with contractual obligations between contractors and their clients and rising premium costs.
Sustainability and raw material price increases
The increased financial cost on raw materials has now accelerated complications on ‘Fixed Price’ contracts which have resulted in the need for flexibility around tenders to maintain profitability. Such pressures are further amplified by the pressures to source socially responsible materials in an already stretched supply chain to meet the needs of the changing construction landscape. Construction businesses today need advice that transcends traditional insurance and takes into consideration the wider risks facing their business today.
Avoiding the risk of underinsurance
Did you know 19% of businesses haven’t reviewed their indemnity period in the last two years? Despite this, 91% of SMEs believe they have the right level of cover in place.
What is underinsurance?
If your business is underinsured, your company’s assets are being insured at less than their true worth, leaving you inadequately protected. Therefore, in the event of a disaster, you would be compensated for less than the true value of your loss.
That’s not what you want to hear when you are making a claim. Click here to read more about underinsurance.
Choosing the right construction insurance policy
What is Construction Insurance?
Construction insurance is a specialized coverage that protects individuals and businesses in the construction industry from various risks during projects, including liability, property damage, and injuries. It encompasses policies such as general liability, builder’s risk, workers’ compensation, and others to provide comprehensive financial protection for construction-related activities.
We’ve got you covered
We believe the arrangement and placement of the general insurance programme to be the most basic element of what we do, but nevertheless a key cornerstone of any risk programme.
Rest assured, we do not take this for granted: we spend time with you and your teams making sure your programme is set up correctly and fit for purpose, so it responds as you expect it to.
Unlike most brokers, we take a proactive approach to claims, making it a fundamental part of how we structure and design your programme. Claims is not an afterthought – it’s an integral part of our service proposition.
If you do need to call upon your insurance policy, our claims proposition, which is founded upon our own, in-house loss adjusting expertise, sees us stand shoulder-to-shoulder with you just when you need the most support.
In addition to the standard covers, we normally receive the most questions around the following specialist areas:
– 6.5.1 non negligence liability
– Business interruption
– Contractors all risk risks insurance
– Cyber protection
– Defective title indemnity
– Delay in start up
– Employers’ liability
– Employee wellbeing & benefits
– Employee wellbeing & life cover
– Environmental liability insurance
– Health & safety updates
– JCT Clause 6.5.1 insurance
– Judicial review cover
– Latent defect
– Management liability
– Motor fleet insurance
– Own plant and hired in plant insurance
– Professional Indemnity
– Public Liability
– Rights to light
– Single project insurance
– Shareholder protection
– Surety/bonds
Our eco-system in the construction industry
Previous
NextUsual types of cover for the construction industry
We believe the arrangement & placement of the general insurance programme to be the most basic element of what we do, but nevertheless a key cornerstone of any risk programme.
In addition to the standard covers, we normally find the most questions around the following specialist areas:
Protects your business in the event of claims brought against you by other people (not your employees) for injuries or property damage caused in consequence of your business activities
Cover in the event of injury claims made by an employee.
Cover for the contract work undertaken and provides protection for the building works itself, whether completed or in progress. It also includes cover for all materials which are stored on or immediately next to the site on which you are working.
Cover against damage or theft to protect you against any unexpected losses, whether you own the equipment in question or have hired it in to use it on a project.
Protects businesses from compensation claims from third parties as a result of a motor accident. These third-party claims could be in the form of financial compensation for injury or property damage for a third party.
An important product designed for professional firms and people which covers them in the event of certain errors made during their business. The policies available mainly cover professional negligence, errors or omissions, breach of professional duty and civil liabilities
A bespoke arrangement between owner/developer or contractor and is negotiated into one program to cover ‘all risks’ of loss or damage to the permanent and temporary works comprising the contract, including the materials, and all things used for or intended for incorporation within the contract, throughout various phases of the construction / erection, including testing
Protects against the cost of restoring damage caused by environmental accidents, such as pollution of land, water, air, and biodiversity damage.
Provides protection against the employer’s liability for expense, liability, loss, claims or proceedings that arise due to non-negligent damage to property (other than the contract works) while undertaking a building contract
Meet the construction insurance team
Richard Grosvenor
Client Partner - Construction and Manufacturing
